Sales and Purchases
The length of time that your transaction will take will often be dictated by upon how quickly others involved in the transaction want to deal with it. Please rest assured that Blakewater Certus Solicitors will always take all steps possible to make sure that your transaction takes no longer than is absolutely necessary.
Please bear in mind, however, that the time taken may be entirely outside of your, or our, control. This could arise where, for example, you are buying from someone who does not yet have a house to move to or where you are selling to someone who has not got all of their funds in place.
On average a transaction usually takes between 8 and 12 weeks. If it is a simple transaction without a long chain of related transactions then it might be quicker but if there are lots of properties involved in a long chain of transactions, then it might take longer.
For instance, you might be a first-time buyer who is purchasing a new build property with a mortgage where you could easily complete in 8-10 weeks. However, if you are buying and selling a property, it could take considerably longer because others in the chain of transactions do not want to go ahead that quickly. This may also be reflected in the price that we need to charge – especially if substantial negotiations are involved.
We will always make sure that you are kept fully up-to-date with the likely time-scale.
Some of the factors that can influence how long the transaction can take and over which we have little or no control include:
- Waiting for the Local Authority to report on matters affecting the property, such as planning permissions and building consents;
- The time taken by the vendor to respond to any questions about the property, such as details of fixtures and fittings or certificates/guarantees for work done to the property;
- If the property is leasehold, waiting for the management company to provide details of service charges and ground rent;
- Waiting for the purchaser to agree matters with a purchaser of their property;
- Where someone drops out in the middle of a chain of transactions;
- Waiting for the mortgage lender to provide the mortgage papers for signing.
To ensure your transaction proceeds as quickly as possible we will always chase up the progress of your transaction and will not simply wait for something to happen. However, just because the transaction is not moving forwards does not mean that it us that is holding it up. We will always try and keep you up to date.
Mortgages and Remortgages
Most remortgages take between 4 and 8 weeks to complete, although this can depend upon how quickly the lender is prepared to respond to queries and requests and upon the length of time taken by searches.
Please rest assured that Blakewater Certus Solicitors will always take all steps possible to make sure that your transaction takes no longer than is absolutely necessary.
Please bear in mind, however, that the time taken may be entirely outside of your, or our, control. This could arise where, for example, searches are held up or your mortgage lender has further enquiries that they need to make.